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New York Loan Opens Branch in New High Tech Building

By   /   June 26, 2013  /   No Comments

Extell Development Co., one of New York’s most prolific developers is opening a 34-story skyscraper in Manhattan’s Diamond District this week.  The big question is whether or not there is a market for the high priced space where the average cost is $1,000 a square foot.  It was a slow start, but more than half the units are now sold.  Extell believes jewelry tenants are going to be willing to pay the high price in exchange for the state of the art security which features iris scanners, 350 cameras and tracking technology.  Jordan Tabach-Bank, CEO of Beverly Loan Company in Beverly Hills, CA is one such client.  Tabach-Bank’s company makes collateralized loans on gems and other high-end items.  He’s long been looking for the right space to open a New York Branch to be more accessible to his east coast clients.  New York Loan Company, located on the third floor, officially opened its doors this week.  “I wanted a location where my clientele could feel safe and have a sense of privacy,” Tabach-Bank said of the building.

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